Living up to credit unions’ mission
Jim Nussle
Chief Executive Officer, AMERICA’S CREDIT UNIONS. Our mission is to advocate for and advance an environment where credit unions thrive.
There have been a lot of conversations since the Department of Justice announced the consent order against Citadel Credit Union, many of them hard but necessary.
NCUA Chairman Todd Harper indicated at our Governmental Affairs Conference earlier this year that DOJ investigations about redlining were underway, and it’s possible similar actions may still be ahead for other institutions.
We have a Compliance Blog post addressing the details, including what all credit unions should take away and consider for their own operations. Don’t hesitate to reach out to our team with any questions.
It’s important credit unions use this as an opportunity to ensure we continue to live our mission. We know that opponents of not-for-profit financial cooperatives will use this to claim we’re not meeting our intended purpose. That makes it even more important we share credit unions’ impactful stories.
You go above and beyond every day for members and communities in the ways they need it most. As we prepare for a new Congress (with new lawmakers and staff), we must work together and use our unified voice to share our collective impact in communities across the country.
Credit unions exist to serve your members, to put people before profit, and that includes giving people the opportunity to achieve their best financial lives.
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National Advocacy Fund strategically supports credit union champions
Our National Advocacy Fund (NAF) is an amazing tool in our advocacy toolbox for credit unions. Through NAF, we’re on track to invest a record $2+ million this election year to engage voters in support of credit union champions from both parties. Check out our NAF fall update to learn more about our strategic efforts deploying this fund to help credit union supporters return to Congress (including some great successes in this year’s primaries). ?
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Legal filing challenges CFPB’s overreach
Our fight against the CFPB’s regulatory overreach continues this week with a legal filing in the Fifth Circuit Court of Appeals supporting a challenge to the CFPB’s 2022 update to its Exam Manual. We’re concerned that the manual—as guidance—is instead being treated with the force and effect of law, despite the clear statutory distinction between guidance and rules. This, as well as a lack of clear information in the updated manual, means the lower court’s decision vacating the manual should stand.
Relentless advocacy to advance, empower, and protect credit unions:
Lock in your seat at GAC
Next year’s Governmental Affairs Conference is slated for March 2-6 in Washington. Register for an unparalleled opportunity to connect with industry leaders and engage in meaningful advocacy efforts.
Global credit union movement hits 411 million members
Thursday was International Credit Union Day, an opportunity to celebrate the life-changing power of the global credit union difference. The World Council of Credit Unions released its latest report, showing international credit union membership hit 411 million members in 104 countries by the end of 2023! Global credit union assets increased by 4% in 2023 and have more than doubled in the last decade.